Hey Team,

I have a few different classic cars and my insurance company wants accurate appraisal amounts for them. Does anyone know where one can get that information online or otherwise?

I haven't been able to find any sites that are real specific for classic cars. Is there an association of appraisers out there I can contact?

Thanks in advance!

Church

I use MK,
http://www.mkinsuranceagency.com

Tamra over there is really cool. They will work an "agreed on" policy that works for you with no appraisals (I think they check on their end that the price is not out of line) and I have had made any claims, but found them to be great so far.

Rich

When I put my 68 back on the road 10+ years ago my insurance agent (State Farm rep) suggested an independent appraisal. He gave me a list of local appraisers and then it was up to me to screen and hire one. The appraisal came back higher than I expected and was really worth the cost IMO.

Since your agent requested the appraisal, I would ask the agent for a referral. You could also search the web and yellowpages for appraisers in your area.

JC Taylor - no appraisal up to $30K.

Remember, most "regular" insurance companies go on "stated value". In layman's terms, that means that's the point that they start to depreciate. Unless you total the car the day after it is insured, you will not get that in the event of a total loss.

JMO, but unless it's a daily driver, I'd consider "agreed value" It's cheaper, and in the event of a total loss, it will pay exactly what you insured it for.

Many dealers will do a written appraisal for less than $100, but you want one that specializes in classics, has a good reputation and has been in business for at least 15 years with an apparent intention to stay in business. Also you want to take a lot of pictures and document the details of the work and parts that have been utilized to add value/restore your vehicle.

I would not have the appraiser grossly over estimate the vehicle either as that would reduce the legitimacy of your appraisal. I laugh at some of the values I’ve seen quoted from BS appraisals. Double or triple what one would expect the fair market value of the vehicle to be. You always see these people put the ridiculous appraisals they've gotten in their ludicrously juvenile for sale ads. I have told more than one of them that they should have sold the vehicle to the appraiser.

Insurance companies seem to have gotten pretty aggressive and confrontational in order to limit their liabilities and maximize profits. They will buffalo you if you don't know and exercise your rights when it comes to settling a claim. In Oregon you have the right to take your vehicle to any repair shop that charges "usual and customary rates", however; the adjusters will try to strong arm you into taking their damage estimation and using their own or their "approved" body shops. No doubt those shops receive benefit from the insurance company for keeping repair costs at absolute minimum even if your vehicle is not restored to pre loss condition either by use of substandard parts, poor workmanship or incomplete repair. I digress